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Daily Archives: March 27, 2019

Three states amend appraisal management company requirements and definitions

InsightsBy APPROVED LicensingMarch 27, 2019

On March 25, the Colorado governor signed SB 46, which amends the definition of an appraisal management companies (AMC) in sections of the Colorado Revised Statutes to align with the definition in federal law. The act, with the exception of section 3, takes effect immediately. On March 19, the Arkansas governor signed SB 393, which amends the…

Virginia requires money transmitters to be licensed through NMLS

InsightsBy APPROVED LicensingMarch 27, 2019

On March 19, the Virginia governor signed HB 2690, which requires money transmitters to be licensed through the National Multistate Licensing System and Registry (NMLS). The bill also (i) amends the definition of a “member” subject to the law’s requirements to include a person who owns or controls ten percent (previously it was five) of…

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